NH Investment & Securities predicted that Yuhan’s major new drug portfolio, Lazertinib (lung cancer drug), would enter the U.S. market in 2022.
In addition, it is estimated that operating profit in the hundreds of billions of won will be achieved thanks to the consolidated company's earnings improvement and high growth in laser tinib royalty income.
Accordingly, we maintained our 'buy' rating and raised our target price by 21% (15,000 won) from 70,000 won to 85,000 won.
NH Investment & Securities has significantly raised the value of Yuhan Corp.'s lasertinib from 2.2423 trillion won to 2.9875 trillion won.
The European Society of Oncology (ESMO) recently released encouraging clinical results. NH Investment & Securities expects Yuhan Corp. to record annual consolidated sales of 1.7482 trillion won and operating profit of 82.9 billion won.
Lasertinib's revenue from technical fees is also expected to increase significantly every year. NH Investment & Securities expects to make 75.5 billion won in profits in 2022 with clinical three-phase milestone recognition and US approved milestone.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
